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The purpose of this paper is to provide an empirical assessment of the economic efficiency of grape-producing farms in Armenia. Upon reviewing various field-related studies the frontier analysis was singled out as a methodological base of this study. More specifically two-stage empirical analysis was performed, which includes the measurement of efficiency levels of grape farms by implementing the DEA technique and then assessing the determinants of obtained efficiency scores by performing Tobit modeling. To obtain necessary data, 365 grape farms from the Armavir region were surveyed. The main findings of this paper suggest that the average efficiency score for grape farms is 0.72, and there is room for improvement in the economic performance of farms with 28%. The main determinants of farm efficiency were cultivated grape varieties, farm size, and selling prices of grapes. The obtained results mainly support the findings of similar studies carried out for various viticulture regions across the world. This study provides some methodology bases for further expansion of similar studies both in terms of including the other Armenian viticulture regions and different years to explore the changes in the efficiency of grape farms over time. This article provides a base of knowledge for policymakers, scholars, researchers, investors, and credit companies for their decision-making processes and other purposes. [ABSTRACT FROM AUTHOR]

The transition towards the circular economy (CE) is one of the major priorities of the European Union (EU). By observing its benefits through the prism of sustainable development, this study aims to reveal the intricate relationships between the CE and the economy–society–environment nexus across 27 EU countries during the period from 2012 to 2020. Utilizing an extensive dataset comprising 243 observations drawn from the EUROSTAT database, we employed a panel data analysis. In this research, we quantified the impact of CE indicators on key dependent variables: GDP per capita (economic dimension), mortality, morbidity, and the welfare cost associated with exposure to environment-related risks (social dimension) and greenhouse gas (GHG) emissions in the environmental realm. The findings of our study illuminate the multifaceted connections between circular economy practices and the broader goals of sustainable development within the EU-27 context. The CE indicators aggregated at the EU level not only have a beneficial impact on the economy but also on society and the environment. The analysis reveals that each of the six explanatory variables incorporated into the models exhibits the anticipated relationship with at least one of the outcome variables. This research contributes valuable insights for policymakers, public authorities, and other stakeholders seeking to enhance the circular economy landscape in respective countries. [ABSTRACT FROM AUTHOR]

Purpose. This paper investigates the effect of cross-reporting quality transfer: the association between the merits of the financial auditor and the quality of corporate social responsibility (CSR) reporting. Specifically, we examine whether the effect of Big Four financial audits on the CSR reporting quality of Chinese listed firms differs from that of non-Big Four firms. Design/methodology/approach. This paper uses archival data and regression analysis from a sample (5257 firm-year observations) of A-share listed firms on the Shanghai and Shenzhen Stock Exchanges from 2009 to 2018. Findings. The analysis shows that when a company's financial auditor is a Big Four firm, the quality of CSR reports is higher than when it is audited by non-Big Four auditor, which in turn can be explained by differences in cross-reporting quality transfer between Big Four and non-Big Four firms. Moreover, this effect is more pronounced in non-stateowned enterprises (NSOEs) than in state-owned enterprises (SOEs), and among firms residing in high-pressure legal environments as opposed to low-pressure regions. Originality. This study extends the literature on the quality of CSR reporting based on the type of financial reporting audit provider, thus bridging the gap between financial audit and sustainability reporting practice and elucidating the cross-reporting quality transfer effect. Practical implications. The paper's findings shed light on the impact that Big Four firms have on the quality of CSR reports through financial audits, thus confirming the cross-reporting quality transfer effect in China. These findings might appeal to political decision-makers, authorities and companies given the notable contribution of CSR disclosure to the decision-making processes of stakeholders. [ABSTRACT FROM AUTHOR]

This article uncovers relationships between the wine export and production in Armenia. Wine industry is a strategically important economic sector in Armenian. The importance of its development is strongly supported by the fact that alcoholic beverages from grape processing are products with high customs value exported from Armenia (in 2020 the share of alcoholic beverages in the entire export structure was about 8.4%). Within the framework of this study, a detailed analysis of the wine production was performed. By applying econometric analysis, we assessed the impact that the increase of wine export has on wine production. Also, the empirical analysis of the impact of USD and RUB exchange rates on wine industry was performed. Overall, the econometric analysis indicated that export volumes and USD exchange rate significantly affect Armenian wine industry. This study provides enough evidence for us to conclude that the export of Armenian wine must be heavily promoted by Government policies and the same time the export directions must be diversified. The results of this study can be basis for scientific substantiation of sectorial strategies developed by the Government of Armenia. [ABSTRACT FROM AUTHOR]

The role of tax policy and the tax system is significant in the country's socio-economic development. About 95% of the revenues of the state budget of the Republic of Armenia are provided by tax revenues and state duties, and large taxpayers provide more than 70% of tax revenues. Therefore, from the point of view of the implementation of tax reforms, particular importance is attached to improving the mechanisms for taxing large taxpayers. Based on the analysis of taxes paid by 1000 large taxpayers of the Republic of Armenia for 2016-2021, problems in the sector were identified. In particular, the number of organizations paying taxes of more than 1 billion drams and from 500 million drams to 1 billion drams is increasing from year to year; however, there is no significant change in the amount of tax revenues paid by one organization on average. The small share of direct taxes in tax revenue paid by the top 1,000 taxpayers has been declining in recent years, which means that indirect taxes increase tax volumes. [ABSTRACT FROM AUTHOR]